September 19th, 2019 | 0 commentsSaudi Arabia increased its holdings of US Treasury bills by 8.4%, or $14 billion, year-on-year, in July 2019. The kingdom’s ownership of US T-bills grew to $180.8 billion at the end of July, compared to $166.8 billion in the year-ago period, according to data released by the US Department of the Treasury. Month-on-month, Saudi holdings of...
September 19th, 2019 | 0 commentsThe Saudi oil giant Aramco has completed the acquisition of Shell’s 50% stake in their Saudi Aramco Shell Refinery Co (SASREF), affiliated to Shell Saudi Arabia Limited, situated in Jubail Industrial City. The deal was concluded at a total value of $631 million, according to a press release on Wednesday. The said purchase is part of Aramc...
September 19th, 2019 | 0 commentsThe Saudi Stock Exchange’s Tadawul All-Share Index (TASI) grew by 50.68 points, or 0.65%, to close at 7,821.23 points on Wednesday, supported by the banking and petrochemical sectors. The banking sector added 0.8%, while the materials, energy, and public utilities sectors grew by 0.64%, 0.77%, and 2.58%, respectively. At the other end of...
September 19th, 2019 | 0 commentsThe extraordinary general meeting (EGM) of the Saudi Chemical Company has approved an amendment to the second clause in the company’s articles of association. Upon the amendment, the company’s name will be changed from Saudi Chemical to Saudi Chemical Holding, according to bourse statement released on Wednesday. The EGM also approved to r...
September 13th, 2019 | 0 commentsSaudi Arabia is currently going through fundamental structural changes in all economic sectors, including healthcare, in light of its set Vision 2030, Colliers International said. Population in Saudi Arabia is expected to reach 45 million by 2030 based on the Saudi Arabian General Investment Authority’s (SAGIA) projections; this forms a k...
September 13th, 2019 | 0 commentsThe board of directors of Herfy Food Services Company approved to distribute SAR 1 cash dividends per share to shareholders for the first half of 2019. The distributions will be paid starting Thursday, 24 October 2019, Herfy Food disclosed to the Saudi Stock Exchange (Tadawul) on Thursday. The dividends shall be due to equityholders on 10...
September 13th, 2019 | 0 commentsThe Saudi Stock Exchange (Tadawul) announced that it has suspended National Building and Marketing Company’s stock from trading, as the company had failed to disclose the financial statements for the second quarter of 2019 during the specified period. The company’s stock will be back to trading after 20 trading sessions starting Sunday, 1...
September 13th, 2019 | 0 commentsThe price of the Kuwaiti oil fell by $0.13 to settle at $62.08 per barrel (pb) on Wednesday from $62.21 pb on Tuesday, according to the official prices published by the Kuwait Petroleum Corporation (KPC). Globally, oil prices rose during Thursday’s trading sessions, as trade tensions began to de-escalate. The US President Donald Trump dec...
September 13th, 2019 | 0 commentsThe CEO of Kuwait Oil Company (KOC) Emad Sultan announced that the firm’s operating budget for fiscal year 2019/2020 amounts to KWD 2.5 billion, as reported by Alrai Newspaper. He concluded that KOC’s average capital spending for the current year is valued at KWD 2 billion. Moreover, he noted that the expected number of wells to be drille...
September 13th, 2019 | 0 commentsThe Saudi Stock Exchange’s Tadawul All-Share Index (TASI) ended Thursday in the red territory, pushed down by leading sectors, including banking. TASI shed 23.5 points, or 0.3%, to close at 7,831.8 points, after the banking, material, and consumer durables sectors declined by 0.5%, 0.46%, and 1.71%, respectively. On the other hand, the me...
